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China Bans Gold Farming

China Bans Gold Farming...

Some time ago MA announced some kind of deal they made with China, and plans on a Chinees based planet similar to Calypso... I have no clue how that situation is these days, if it still is under development or something. But I found an interesting article today that I felt I would share with fellow Entropians :)

I thought it was an interesting article anyways, so here is a link:

Trading virtual goods for real money has been banned in China...

Hope this doesn't hurt MA plans for world domination! ;)

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EDIT: they changed the headline from "China Bans Gold Farming" to "China Limits Use Of Virtual Currency" while I made this post lol...

:silly2:
 
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Two threads in the wrong forums with no responses. I've already won.
 
Centech said:
Two threads in the wrong forums with no responses. I've already won.
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one of them is in "general economy", and I would say that this might affect EU economy ;)
 
As you can see in the documentary "Another Perfect Life" there is an HUGE black market of virtual stuff in China. You can buy virtual stuff on real life Ebay like auction sites and get them handed over to you in the games. This however also produces a lot of crime and even murders for deal gone wrong. I'm guessing that is what is banned in China now and not the use of virtual money. But it is China and I could be wrong.

edit:
they changed the title of the article to "China Bans WoW Gold Farming & All Virtual Currencies". That would suggest I was wrong and they did also ban all virtual trade.

edit:
And a quote from the article:
“The virtual currency, which is converted into real money at a certain exchange rate, will only be allowed to trade in virtual goods and services provided by its issuer, not real goods and services.”
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this kinda means Entropia Outfitters is out of business in China

BUT because PED's are kinda real money, there could be a loophole there.
Maybe the MindBank should try and get PED's recognized as real money so this problem is really gone to.
 
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Whether Centech has won or lost, doesn't change the fact that the story doesn't hold much effect to PE. China banned gold farming, not paying for a service (as per the infamous EULA)
 
PED isnt a virtual currency tho, its a real currency, as real as any other anyway.

It has no more or les value then a euro, or a dollar, etc. Since you can convert it to dollars or euros etc anytime you want.
 
Angel of Death said:
Whether Centech has won or lost, doesn't change the fact that the story doesn't hold much effect to PE. China banned gold farming, not paying for a service (as per the infamous EULA)
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Seriously? China has banned using virtual funds to purchase real goods....

This news story ring any bells?

David Liu, chief executive of Cyber Recreation Development, compared the Web project to a three-dimensional eBay, where users can shop online through a more visually appealing interface.

"Whatever way they do business in China, we'll do the same," Wang said, referring to eBay and other Web businesses. "It's just that our visual presentation is better."

Liu's company announced last week that it would develop a virtual world for Chinese users with the Swedish company MindArk.
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Regardless of what anyone is saying, PED is a virtual currency - its certainly not a legal IRL form of currency used in worldwide trading and considering it has no IRL physical currency such as notes or coins how can anyone say it's not virtual?


Bottom line from how I interpret this is thats the end of the China planet... don't see how it could possibly work now... and thats a big impact on PE imo





EDIT: just saw this quote in the article:

Asked about potential censorship of user chats, Liu said "the government won't censor commercial transactions between users," adding that the site would avoid politics.
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Bet he is eating his words now :laugh:
 
Considering they had(have?) a credit/debit card you can use just like any other that draws ped instead of dollars or euros. I dont see how you can call that any more virtual then dollars or euros are.

The currencies we use these days are not 'real'. They are real in a physical sense, but they have no real value. They only have the value the people give to them.

Especially in fractional reserve banking economies, where money is created by very bank out of thin air whenever they make a loan.

Its not real, its just numbers on paper, numbers in a computer. Ped is no less real then that as long as WE consider it 'real', its 'real'.

If you consider dollars or euros etc 'real', then ped is 'real'. If you dont consider them 'real' then ped also isnt 'real'.

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What makes any currency 'real' is the people who use it. Either you will trade it for goods and services or you wont. There are many paper currencies in this world that have less 'use' then PED.

If you brought me yen, i wouldnt trade you anything for it, yet its a real currency. The same would go for the majority of the currencies of this world. Its not my currency and its worthless to me. There might be a place to exchange it for my currency(just like ped), but by itself it has zero worth to me, even tho they are 'real' currencies.
 
I can't help wondering how they are going to enforce this, or provide proof of an offence if the law is broken?

Bad news all round if this buggers up the China deal.

t
 
Entropia Universe is an expanding universe of 3D virtual worlds for online entertainment, social interaction and trade using a real cash economy. The virtual PED currency used throughout the virtual universe has a fixed exchange rate of 10:1 with the US Dollar, allowing you to deposit real funds simply and securely for your avatar's adventures across the universe. You can also withdraw real funds at any time from your PED account to your real life bank account.
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http://www.planetcalypso.com/planet-calypso/entropia-universe/
 
As much as I hate to admit it JayDee is right PED's are not a real currency.
 
Perhaps the government is banning everything but EU in anticipation of going online there? Like EU will be the only thing the PRC is allowed to play?

Definitely interested in hearing what MA has to say about all this...
 
If China didn't make it or can't figure out how to control it, they don't want anything to do with it.
 
this shouldnt affect MA, firstly the chinese government are involved in the CRD project and secondly the ban is on third parties dealing in the currency so doesnt included the parent/operating company.
 
as far as i understand it, the chinese are allowed to put money in, but its forbidden to take it out again...

great deal for ma

maybe i´m wrong, when i read, that rl companies want to sell their goods via the platform - *confused*

i guess, aridash is right
 
Hi,

I understand that I understand quite little from what I read in all of these linked articles. Without having hard information of law texts or administrative orders it is, for me, impossible to decide what is really happening.

At the moment it seems to me that they want to stop the gold farmers because these might be viewed as a shame to China. But there could be more, for sure. It could be to fight the "QQ coins", too. I don't know, maybe I should ask?

I'm quite sure they'd do nothing that might hinder their economic development.

Have fun!
 
Xandra said:
At the moment it seems to me that they want to stop the gold farmers because these might be viewed as a shame to China. But there could be more, for sure. It could be to fight the "QQ coins", too. I don't know, maybe I should ask?
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its clear from the original press release that it is wholey focused on the QQ coins and the impact they might have on the black market. other than the Register story, all other ive seen go on about gold farming but i dont think it has much to do with that: how can you stop a non-Chinese company paying people in China to play game X all day and pass on their collected loot?
 
Did a bit more reading and thinking and I think China only bans buying REAL stuff with VIRTUAL money, so this shouldn't affect any MMORPG at all. It only affects people that want to sell a TV (or whatever) for PEDs. So this does mean Entropia Outfitters can't sell anything in China (as I said before). Other then that I don't see any problem for EU or any other game. And I believe that selling real stuff for PED's is against the EULA anyway (with Entropia Outfitters as an exception) so there shouldn't change much for the Chinese players.
 
personally i think the chinese government doesnt want the chinese ppl speaking to the rest of the world, thats all.........

same in lots of countries, like iran for example
 
Hi,

aridash said:
its clear from the original press release that it is wholey focused on the QQ coins and the impact they might have on the black market.
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You are right. Seems I missed this one - exactly the one that would be a reliable source :(

Why can't I +Rep here?

Have fun!
 
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